Bitcoin Cash traded a few points below the $ 1400 level. It formed a low level of $ 1,390 and is currently correcting higher.
It has moved over 23.6% Fib retracement level of the last big drop from $ 1,638 high to $ 1,390 low. However, BCH buyers face many obstacles on the upside close to $ 1,520 and $ 1,540.
More importantly, yesterdays highlighted a new bearish trend line with the current $ 1,520 resistance, active on the BCH / USD timetable. The couple is now well above the level of $ 1,450 and consolidates losses.
It tested almost 50% Fib retracement level of the last big drop from $ 1,638 high to $ 1,390 low. However, it appears that trend line resistance and $ 1,540 are important barriers to buyers on the upward.
@tradewonk